Will the Bretton Woods 2 Regime Unravel Soon?
... See the discussion by David Hale, Financial Times, January 26, 2005. ...
... See the discussion by David Hale, Financial Times, January 26, 2005. ...
World Economic Outlook, October 2000
... The outlook for the global economy has continued to strengthen, with GDP growth projected to increase in all major regions of the world. This improvement has been led by the continued strength of the U.S. economy, a robust expansion in Europe, and a nascent—albeit still fragile— recovery in Japan. I ...
... The outlook for the global economy has continued to strengthen, with GDP growth projected to increase in all major regions of the world. This improvement has been led by the continued strength of the U.S. economy, a robust expansion in Europe, and a nascent—albeit still fragile— recovery in Japan. I ...
Monetary Policy in Fiji Monetary Policy in Fiji
... external and internal shocks on domestic economic priorities. The escalation in oil and food prices, for instance, has significant negative effects on a small economy such as Fiji because it generates inflationary pressures and directly reduces the level of foreign reserves. This, in turn, affects m ...
... external and internal shocks on domestic economic priorities. The escalation in oil and food prices, for instance, has significant negative effects on a small economy such as Fiji because it generates inflationary pressures and directly reduces the level of foreign reserves. This, in turn, affects m ...
850.12 KB - Asian Development Bank
... developing economies in terms of output growth stability, it can be their international macroeconomic policy management, determined within the constraint of the trilemma, that have contributed to making these economies better prepared for higher vulnerability possibly exacerbated by recent globaliza ...
... developing economies in terms of output growth stability, it can be their international macroeconomic policy management, determined within the constraint of the trilemma, that have contributed to making these economies better prepared for higher vulnerability possibly exacerbated by recent globaliza ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... some countries experienced growth of their domestic markets, this growth in most cases has not been as significant as the one witnessed by industrialized nations. Other countries experienced an actual deterioration of their capital markets. Stock markets in many developing countries have seen listin ...
... some countries experienced growth of their domestic markets, this growth in most cases has not been as significant as the one witnessed by industrialized nations. Other countries experienced an actual deterioration of their capital markets. Stock markets in many developing countries have seen listin ...
PRINTER`S NO. 1588 THE GENERAL ASSEMBLY OF
... WHEREAS, These efforts financed the victorious Yorktown campaign of Washington and Rochambeau; and WHEREAS, Resuming his career as a private broker and financier, Mr. Salomon was an influential member of Philadelphia's Mikveh Israel congregation and helped lead the fight to overturn restrictive Penn ...
... WHEREAS, These efforts financed the victorious Yorktown campaign of Washington and Rochambeau; and WHEREAS, Resuming his career as a private broker and financier, Mr. Salomon was an influential member of Philadelphia's Mikveh Israel congregation and helped lead the fight to overturn restrictive Penn ...
This PDF is a selection from a published volume from the National Bureau of Economic Research Volume Title: Governance, Regulation, and Privatization
... recuperation. This asymmetric response was caused by the fact that the credit crunch affected mainly small and medium firms in the N-sector, while firms in the T-sector could obtain finance from international capital markets. As a result, non-oil exports were not affected by the Tequila crisis. In fac ...
... recuperation. This asymmetric response was caused by the fact that the credit crunch affected mainly small and medium firms in the N-sector, while firms in the T-sector could obtain finance from international capital markets. As a result, non-oil exports were not affected by the Tequila crisis. In fac ...
IMF eLibrary
... IMF eLIBRARY A comprehensive, easy-to-use source of unrivaled research and statistics on financial and economic developments Where Leadership and Information Merge The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial st ...
... IMF eLIBRARY A comprehensive, easy-to-use source of unrivaled research and statistics on financial and economic developments Where Leadership and Information Merge The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial st ...
Inflation, exchange rates and the role of monetary
... relevant, at least for now. It should also be noted that the effects can overlap to some extent, as explained more fully below. As noted earlier, interest rates were under the direct control of the central bank until August 2000. An important indirect effect of interest rates on inflation may have o ...
... relevant, at least for now. It should also be noted that the effects can overlap to some extent, as explained more fully below. As noted earlier, interest rates were under the direct control of the central bank until August 2000. An important indirect effect of interest rates on inflation may have o ...
Information for investors
... Political risk includes: wars, strikes, revolutions, trade embargoes, political and economic sanctions, expropriation, nationalisation, moratorium on payments abroad, also including non-convertibility of the domestic currency, suspension of a currency regime. Economic risk includes a worsening of a ...
... Political risk includes: wars, strikes, revolutions, trade embargoes, political and economic sanctions, expropriation, nationalisation, moratorium on payments abroad, also including non-convertibility of the domestic currency, suspension of a currency regime. Economic risk includes a worsening of a ...
Robert Philip Flood Nancy Peregriin Marion Working Paper No. 500 1050
... price and interest-rate fluctuations with underlying real and monetary distur- ...
... price and interest-rate fluctuations with underlying real and monetary distur- ...
The Transmission of Financial Stress and Monetary Policy
... banks tend to responded to financial stress in the past, and what is its role in the transmission of monetary policy to the real economy. I rely on the impulse response functions from the SVAR model developed in Tng (2013) to address these issues. The methodologies applied in this paper are premise ...
... banks tend to responded to financial stress in the past, and what is its role in the transmission of monetary policy to the real economy. I rely on the impulse response functions from the SVAR model developed in Tng (2013) to address these issues. The methodologies applied in this paper are premise ...
The United States and the Large Emerging
... established in 1999, was based in part on considerations of political balance. One can certainly quibble with where the lines were drawn, but our judgment is that the balance is about right.5 Table 5.2 presents data on the six other LEMs. The growth rates of their economies, trade, and international ...
... established in 1999, was based in part on considerations of political balance. One can certainly quibble with where the lines were drawn, but our judgment is that the balance is about right.5 Table 5.2 presents data on the six other LEMs. The growth rates of their economies, trade, and international ...
CAPITAL FLOWS AND THEIR IMPLICATION FOR CENTRAL BANK
... 1, 19961. The implementations of the current and capital account liberalization have had both negative and positive impacts in the economy. Mongolia was the first country in transition to join the World Trade Organization (WTO) in January 1997. The opening-up of Mongolian markets (foreign trade libe ...
... 1, 19961. The implementations of the current and capital account liberalization have had both negative and positive impacts in the economy. Mongolia was the first country in transition to join the World Trade Organization (WTO) in January 1997. The opening-up of Mongolian markets (foreign trade libe ...
Migrant Remittances, Financial Globalization, and Exchange Rate
... (broadly construed) as a constraint on exchange rate policy: countries with more open capital accounts are more likely to float their currencies, because to do otherwise implies a loss of domestic monetary policy autonomy (Cohen 1993; Leblang 1999; Broz 2002). I confront this conventional wisdom wi ...
... (broadly construed) as a constraint on exchange rate policy: countries with more open capital accounts are more likely to float their currencies, because to do otherwise implies a loss of domestic monetary policy autonomy (Cohen 1993; Leblang 1999; Broz 2002). I confront this conventional wisdom wi ...
Holding Excess Foreign Reserves Versus Infrastructure Finance
... instrument of exchange rate policy in developed countries while it is a major national asset of economic development in developing countries. Against this background, this paper deals with the following questions: what are the objectives of foreign exchange reserves management? Are they adequate? W ...
... instrument of exchange rate policy in developed countries while it is a major national asset of economic development in developing countries. Against this background, this paper deals with the following questions: what are the objectives of foreign exchange reserves management? Are they adequate? W ...
Measuring the Banking System`s Resilience
... problems that emerge at one bank may spread to other banks and eventually jeopardize the stability of the entire banking system. Public authorities must balance the primary objectives of banking regulation, i.e., maintaining the microprudential safety and soundness of individual banking institutions ...
... problems that emerge at one bank may spread to other banks and eventually jeopardize the stability of the entire banking system. Public authorities must balance the primary objectives of banking regulation, i.e., maintaining the microprudential safety and soundness of individual banking institutions ...
85th Annual Report - Bank for International Settlements
... Falling term premia push yields lower . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The ECB’s asset purchase programme has a strong effect on interest rates . . . . . Official holdings of government securities grow . . . . . . . . . . . . . . . . . . . . . . . . . . . ...
... Falling term premia push yields lower . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The ECB’s asset purchase programme has a strong effect on interest rates . . . . . Official holdings of government securities grow . . . . . . . . . . . . . . . . . . . . . . . . . . . ...
THE GLOBALIZATION PARADOX, by Dani Rodrik
... ambitious agenda of economic liberalization and deep integration — an effort to establish what we may call hyperglobalization. Trade agreements now extended beyond their traditional focus on import restrictions and impinged on domestic policies; controls on international capital markets were removed ...
... ambitious agenda of economic liberalization and deep integration — an effort to establish what we may call hyperglobalization. Trade agreements now extended beyond their traditional focus on import restrictions and impinged on domestic policies; controls on international capital markets were removed ...
an estimation of the sovereign risk of a catalan state
... The 'sovereign risk' of an independent state is part of the more global concept of 'country risk'. The sovereign risk is that risk assumed by international creditors when lending funds to an independent state, or to an entity guaranteed by an independent state, with the special particularity that th ...
... The 'sovereign risk' of an independent state is part of the more global concept of 'country risk'. The sovereign risk is that risk assumed by international creditors when lending funds to an independent state, or to an entity guaranteed by an independent state, with the special particularity that th ...
Chapter 9 : Finance: Acquiring and Using Funds to Maximize Value
... equipment or the launch of a new product line. And, of course, firms need some funds to pay a return to the owners for their investment in the company. Companies also have a variety of ways to acquire the financial capital they need: direct contributions by owners, reinvestment of earnings, loans fr ...
... equipment or the launch of a new product line. And, of course, firms need some funds to pay a return to the owners for their investment in the company. Companies also have a variety of ways to acquire the financial capital they need: direct contributions by owners, reinvestment of earnings, loans fr ...
Quarterly International Investment Position and External Debt - Background Notes
... in goods and services and advance payments for work in progress (or to be undertaken) associated with such transactions. Trade credits between affiliated enterprises (other than financial intermediaries) are classified under Direct Investment. Otherwise, they are classified under Other Investment. L ...
... in goods and services and advance payments for work in progress (or to be undertaken) associated with such transactions. Trade credits between affiliated enterprises (other than financial intermediaries) are classified under Direct Investment. Otherwise, they are classified under Other Investment. L ...
02/2015 Integration, Spurious Convergence, and Finan- cial Fragility: A post-Keynesian interpretation
... transformation or to a conscious industrial policy strategy.12 It can be rather explained in part by the affluence of funds received from Europe as a result of the structural fund and cohesion policies. Between 1986 and 1996 Spain received about 150 billion Euros in funds for agriculture, for region ...
... transformation or to a conscious industrial policy strategy.12 It can be rather explained in part by the affluence of funds received from Europe as a result of the structural fund and cohesion policies. Between 1986 and 1996 Spain received about 150 billion Euros in funds for agriculture, for region ...
Global financial system
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a series of reciprocal trade agreements slowly reduced tariffs worldwide. Efforts to revamp the international monetary system after World War II improved exchange rate stability, fostering record growth in global finance.A series of currency devaluations and oil crises in the 1970s led most countries to float their currencies. The world economy became increasingly financially integrated in the 1980s and 1990s due to capital account liberalization and financial deregulation. A series of financial crises in Europe, Asia, and Latin America followed with contagious effects due to greater exposure to volatile capital flows. The global financial crisis, which originated in the United States in 2007, quickly propagated among other nations and is recognized as the catalyst for the worldwide Great Recession. A market adjustment to Greece's noncompliance with its monetary union in 2009 ignited a sovereign debt crisis among European nations known as the Eurozone crisis.A country's decision to operate an open economy and globalize its financial capital carries monetary implications captured by the balance of payments. It also renders exposure to risks in international finance, such as political deterioration, regulatory changes, foreign exchange controls, and legal uncertainties for property rights and investments. Both individuals and groups may participate in the global financial system. Consumers and international businesses undertake consumption, production, and investment. Governments and intergovernmental bodies act as purveyors of international trade, economic development, and crisis management. Regulatory bodies establish financial regulations and legal procedures, while independent bodies facilitate industry supervision. Research institutes and other associations analyze data, publish reports and policy briefs, and host public discourse on global financial affairs.While the global financial system is edging toward greater stability, governments must deal with differing regional or national needs. Some nations are trying to orderly discontinue unconventional monetary policies installed to cultivate recovery, while others are expanding their scope and scale. Emerging market policymakers face a challenge of precision as they must carefully institute sustainable macroeconomic policies during extraordinary market sensitivity without provoking investors to retreat their capital to stronger markets. Nations' inability to align interests and achieve international consensus on matters such as banking regulation has perpetuated the risk of future global financial catastrophes.